Turkey is 'well-kept' retirement secret

05 September 2007

Turkey has been tipped as a potential hotspot for property investment with the aim of living in the country after retirement.

Mike Dunkerley, director of the Global Property Group, described the country as a "well-kept secret" for those wishing to retire abroad.

He noted that the country is "huge" and offers a number of places where property prices are "exceptionally low".

According to Mr Dunkerley, Turkish villas featuring three or four bedrooms, two bathrooms, a swimming pool and coastal location could cost around £65,000.

Two-bedroom apartments could be snapped up for as little as £35,000, he added.

Another appealing factor for those considering retiring in foreign climes would be the relatively low cost of living, Mr Dunkerly suggested.

He said: "A couple can live easily on £50 per week for everything."

Retirees can also live off their savings as their money earns 18 per cent interest in the bank. "There are expat British communities doing precisely this," said Mr Dunkerley. "Sunshine and no worries!"

Government figures suggest more that 55,000 British pensioners live in Spain, with 35,000 spending their retirement in Italy, 24,000 in France and some 6,500 in Portugal.